Mumbai: The Indian rupee depreciated against the US dollar in early trade on Friday. As per forex traders, the Indian currency weighed down by intensifying geopolitical tensions between India and Pakistan. Besides, increased demand for the US dollar further dented investor sentiments.
At the interbank foreign exchange, the domestic currency opened at 85.88 against the US dollar, registering a fall of 30 paise over its previous close. On Thursday, the rupee saw its steepest single-day fall in more than two-and-a-half years and settled 81 paise lower at 85.58 against the US dollar on Thursday, weighed down by heightened geopolitical tensions between India and Pakistan.
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Meanwhile, the dollar index, which gauges the US dollar’s strength against a basket of six currencies, was trading higher by 0.01 per cent at 100.65.
Foreign institutional investors (FIIs) bought Indian equities worth Rs 2,007.96 crore on a net basis on Thursday.
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